Two global financial watchdogs have called on national regulators to strengthen oversight of the remittance sector, warning that a “complete absence” of supervision in many regions is driving banks to continue de-risking.
The Financial Stability Board (FSB), an international body chaired by Bank of England governor Mark Carney, submitted two reports on de-risking to the G20 group of world leaders ahead of this week’s summit in Buenos Aires — one focused on correspondent banking and one on remittances.
To continue reading...
Our Key Benefits
PaymentsCompliance is a premium information service for compliance, legal and regulatory professionals. Our award-winning regulatory monitoring platform is used by many of the world's leading payment services providers and e-money institutions, regulators, challenger banks, fintechs and law firms.
We keep our clients informed of critical regulatory change and help them understand, with in-depth analysis, when change is coming and the implications for their organisation.
We provide our clients with a quantifiable and significant ROI by reducing the amount of time and money spent monitoring and analysing regulatory environments in multiple jurisdictions.